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AfDB to invest in Nigerian infrastructure development

AfDB, Nigeria’s ministry of finance and the National Planning Commission will meet in Abuja to discuss the countrys infrastructure, economic and social issues. (Image source: Jeff Attaway/Flickr)

The African Development Bank (AfDB) has revealed plans to invest in Nigerias infrastructure development and support environment policy in the West African nation

The bank will hold a high level policy dialogue on ‘Infrastructure and Structural Transformation in Nigeria’ in Abuja, on 29 July 2013 to discuss issues pertaining to the economic, infrastructure and environment sectors.

According to an AfDB statement, the meeting, jointly organised by the AfDB, Nigeria’s ministry of finance, and the country’s National Planning Commission, will examine ways in which Nigeria could accelerate the reduction of poverty, social inequality and develop its infrastructure.

AfDB said that its plans to invest in Nigeria were in response to the transformation agenda of the federal government which was hinged on the need for more inclusive growth.

An AfDB statement said, “Nigeria is one of Africa’s largest economies, however, the country continues to face challenges in using this growth to ensure substantial reductions in poverty and social inequality.

“Nigeria has enjoyed a growth rate of some seven per cent in a span of five years due to improved economic performance and sustained policy improvements. The dialogue will focus on the challenges and opportunities faced by Nigeria, while bringing in experiences and lessons from other countries.”

 

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